U.S. Housing Starts Jump 15.7% In July

As per Forbes magazine, builders are feeling more confident in the housing market. Groundbreakings on new homes rose 15.7% in July over the prior month.

Housing starts stood at a seasonally adjusted annual rate of 1.093 million in July, the strongest level the U.S. has seen in seven months. The figures, released Tuesday by the U.S. Department of Commerce, reverse a two-month decline in groundbreakings on new homes, and correlate well with data released Monday that shows builder confidence up two points in August.

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